Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2023

Schedule of Financial Assets and Liabilities, Classified by Level

The following table presents the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis, excluding assets related to the Company’s defined benefit pension plans, classified by the level within the fair value hierarchy (in thousands):


	June 30, 2023						March 31, 2023
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	745,255	$	—	$	—	$	661,884	$	—	$	—
Investments for deferred compensation plan included in other assets:
Cash	$	68	$	—	$	—	$	41	$	—	$	—
Common stock	1,193		—		—		988		—		—
Money market funds	10,592		—		—		9,606		—		—
Mutual funds	18,031		—		—		17,578		—		—
Total investments for deferred compensation plan	$	29,884	$	—	$	—	$	28,213	$	—	$	—

Currency derivative assets included in other current assets	$	—	$	141	$	—	$	—	$	107	$	—

Liabilities:
Contingent consideration included in accrued and other current liabilities	$	—	$	—	$	6,500	$	—	$	—	$	6,629

Currency derivative liabilities included in accrued and other current liabilities	$	—	$	893	$	—	$	—	$	2,187	$	—

Schedule of Change in Fair Value of Contingent Consideration

The following table summarizes the change in the Company's contingent consideration balance during the three months ended June 30, 2023 and 2022 (in thousands):


	Three months ended June 30,
	2023		2022
Beginning of the period	$	6,629	$	12,259
Fair value of contingent consideration upon acquisition	—		1,142
Effect of foreign currency exchange rate changes	(129)		—
End of the period	$	6,500	$	13,401